A wooden pallet is an industrial structure that facilitates the mechanical handling of materials by forklift, front loader, truck, etc. They are typically made of either wood or plastics. A plastic pallet is those that are usually made out of polyurethane plastic material. Both kinds of pallets have their own set of advantages and disadvantages. Wooden pallets are more popular and available in various sizes. Plastic pallets, on the other hand, are less expensive than wooden ones. They are also available in various colors and designs to suit the needs of the customers. Wooden pallets, on the other hand, are heavier and do not move as easily as plastic ones. Wooden pallets are also sturdier than their plastic counterparts.

Increasing adoption of innovative pallets is expected to drive growth of the global pallet market during the forecast period. Adoption of innovative pallets has increased significantly over the years. Many companies have started adopting radio-frequency identification (RFID) tags for product tracking, typically in plastic pallets. Each tag contains specific information and can be located anywhere in the warehouse efficiently. Many warehouse management companies and vendors have started using pallets with RFID tags, in order to avoid damage of pallets as well as loss.

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